VeChain once again breaches the $1 billion market cap after mainnet update, showing how to handle a down market with style.
The crypto sphere has become increasingly volatile over the last few months, especially within the altcoin sphere. Most altcoins have continued their sad descent into the flaky abyss, but one coin has recently proven that it can weather the storm and come out fighting.
VeChain/USD pairing is up 10.47% in the last 24 hours almost breaking the 2c mark. On top of this, it has broken through the $1 billion market cap mark for the second time.
Why is this? Why has VeChain soared while others fell? It comes down to the new mainnet update, releasing the Thor v1.0.2 on September the 3rd 2018.
VeChainThor mainnet v1.0.2 has been released. Key updates include new features, bug fixes and performance improvements. For more details, please visit https://t.co/vm6Zqa169W pic.twitter.com/rufoUTDSYT
— VeChain Foundation (@vechainofficial) September 3, 2018
VeChain is a smart contract platform that derives its usage primarily from tracking of inventory. Its goal to become a great tool for businesses across the globe. It has serious partnerships, including BMW startups. This has caused it to catapult its way to the upper echelons of the cryptocurrency space in a very short time. Its ICO began in August of 2017.
VeChain Thor, the mainnet, was originally released on the 29th of June. In this case, the new version of the mainnet doesn’t radically change anything, but more adds to the service, with new coding options and bug fixes. Thus, this shows continued and prolific support of your product can lead to continued growth of a coin, even in a down market. VeChain exemplifies this brilliantly and has shown many developers how to manage their situation through the tough market conditions.
In terms of specificity, the GitHub article claims these are the new features:
– Support subscription for new blocks, events, and transfers by making WebSocket request.
– Add –gas-limit flag for solo to allow customized block gas limit.
– Improve solo’s error handling and log printing.
– Add x-genesis-id http header verification to prevent accidentally accessing wrong node instance.
– Accelerate synchronization by tweaking P2P parameters.
– Fix error in compiling with go1.10.4 and go1.11.
– Fix panic when data size exceeds 1TB, by upgrade goleveldb.
– Add missing address field in response of POST /logs/events.
So, therefore, we can see that VeChain is growing, due to the great management of its service. In this sense, we can see that it could continue to grow if it maintains its productivity. On top of this, we may soon see companies beginning to flock to its service for inventory management, and grow its value even more.
If VeChain continues its rise then its founders hope for a stable crypto may be blown out of the water by its growth.